Cantor, Bony Offer Safetycash For Tri-Party Repo Transactions
PROPRIETARY EXECUTION
Last month, Cantor Fitzgerald Securities Corp. launched an online system for tri-party repurchase obligation (REPO) agreements. The system, called Safetycash, allows cash managers to initiate REPO transactions from their IBM- compatible PCs via dialup phone line.
Safetycash links the investor with a custodian bank -- currently Bank of New York, with Manufacturers Hanovers Trust Co. to join shortly. The third party to the deal is Cantor, which provides collateral at fixed rates.
Although such
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